Tag Archives: economy

Nawaz for friendly ties with India, invites Manmohan to Pakistan

Nawaz Sharif, who is set to be Pakistan’s prime minister for a third time, Monday said his government would have friendly relations with India and said he would invite Indian Prime Minister Manmohan Singh to his oath-taking ceremony here. Terming economy and energy as top priorities, he said his party will try to form a

China could be world’s No.1 economy by 2016

China could become the world’s largest economy by 2016 if it fully implements a series of regulatory, market, socio-economic and tax reforms, the Organization for Economic Cooperation and Development said. In the presentation here Friday of its latest Economic Survey of China, the OECD forecast that the Asian giant’s economy will grow by 8.5 percent

Australia’s unemployment rate rises

Sydney: Australia’s unemployment rate rose to 5.2 per cent in June, due to the loss of 27,000 jobs, data released Thursday by the Australian Bureau of Statistics (ABS) showed. The ABS reported that the number of people employed decreased by 27,000 to 11,500,500 in June, reported Xinhua. The ABS data showed that the number of

Indian government issues notification on FDI

New Delhi: The government Thursday issued a formal notification on foreign direct investment (FDI) in retail, civil aviation, broadcasting and power exchanges, giving effect to the cabinet decision taken last week. “The government today notified the cabinet/CCEA decisions on FDI in single brand retail, multi brand retail, civil aviation, broadcasting sector and power exchanges. The

Trinamool quits UPA

Kolkata/New Delhi: West Bengal Chief Minister Mamata Banerjee Tuesday withdrew her Trinamool Congress party’s support to the UPA government, but both she and the Congress indicated a last minute compromise may still be possible. Banerjee announced the unexpected decision after a three-hour meeting of party leaders in Kolkata, four days after the central government unleashed

Australian economy recovering slowly

Sydney: Australian economic conditions are at their strongest since September 2011, but the growth rate of future economic activity remains below long-term trend, according to a survey released Wednesday by the Westpac Banking Corporation and the Melbourne Institute. The Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months

Australia’s trade deficit widens

Sydney: Australia’s trade deficit widened in May, data released Thursday by the Australian Bureau of Statistics (ABS) showed. The balance on goods and services was a deficit of AUD 285 million ($292.3 million) in May, a rise of AUD 259 million on the deficit in April, Xinhua quoted the ABS as saying. Economists’ forecasts had

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